The International Monetary Fund (IMF) has projected the growth of Indian economy in 2020 at the rate of 1.9 per cent, while the world economy is likely to contract sharply by "minus 3 per cent" due to the coronavirus pandemic, which is proving worse than the 2008-09 financial crisis.The IMF on Tuesday its yearly World Economic Outlook, providing a grim picture of the world economy amid global lockdown due to the coronavirus pandemic, which has jolted the world by claiming over one lakh lives globally.The IMF has, however, given a bullish projection about India's economic growth in 2021, pegging the growth rate at 7.4 per cent.Gita Gopinath, Chief Economist and Director of the research department at IMF said in her opening remarks, "The COVID-19 pandemic is inflicting high and rising human costs worldwide. Protecting lives and allowing health care systems to cope have required isolation, lockdowns, and widespread closures to slow the spread of the virus.""The health crisis is, ...

The Indian Rapid Response Team imparted training and shared its experience with the Kuwaiti personnel at Jaber Al Ahmed Hospital as part of capacity building in the fight against COVID-19.The team had reached Kuwait on Monday.A release issued by External Affairs Ministry on Monday said that the rapid response team is expected to stay in Kuwait for the next two weeks to help the Kuwait government with medical assistance in testing and treatment of the people infected by the novel coronavirus.The team went to Kuwait following a phone call between Prime Minister Narendra Modi and Prime Minister of Kuwait Sheikh Sabah Al-Khaled Al-Hamad Al-Saba. Both the leaders had agreed for a coordinated approach towards the deadly disease.

At the world's biggest ship-recycling yard at Alang, India, life is becoming harder as fewer ships arrive. Here's why. Photo: Karan Deep Singh/The Wall Street Journal

Interview with President, Boeing India

Policy to boost logistics, ports and e-toll collection on anvil

The state has signed MoU worth Rs 50,000 crore with Adani Group

Solar cell manufacturer First Solar is looking to setup a manufacturing unit with an investment of Rs 6,000 cr

The government is in discussion with the European Union (EU) and Australia for FTAs. The country already has such trade pacts with Asean

Emission nine times more than cap; firm denies claim

Of the total commitments, 30% have come from foreign players

Maharashtra, which was the host state, alone received investment proposals of Rs 7.94 lakh cr and 3,294 MoUs

Even as the Make in India hype scales new heights, some bosses questioned Modi's delivery on promises to make it easier to do business

Right now, the campaign launched in 2014 is best known for its logo - a lion made of cogs - that has shown up on billboards from Hanover to San Francisco

Interview with UK Economic Secretary to the Treasury

CIDCO also inked an MoU with Transparency International India to combat corruption and for effective governance

They'll be dismantling 27 pavilions spread over 2,30,000 sq mt of land owned by MMRDA

Around Rs 30,000 crore investments are from the mineral sector while the rest are from areas like food processing, electronics, textiles and renewable energy

Laud the central government for pro-active steps

Event through Feb 13-18 at BKC in Mumbai brought in 2,594 MoUs entailing Rs 7.94 lakh cr investments

Currently, the $2.9 billion RPG Group earns 42 per cent of its revenue from overseas

A record 309 mn Indians tuned in to watch India's semi-final clash with Australia

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The government of India (GoI) has announced the sale (re-issue) of three dated securities for Rs 19000 crore. These include 6.18% GS 2024 9,000, 7.57% GS 2033 4,000 and 7.16% GS 2050 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be price based (for all securities), using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

The Government of India and the Asian Development Bank (ADB) signed a $1.5 billion loan that will support the government's response to the novel coronavirus disease (COVID-19) pandemic, focusing on immediate priorities such as disease containment and prevention, as well as social protection for the poor and economically vulnerable sections of the society, especially women and disadvantaged groups. Earlier, the ADB's Board of Directors approved the loan to provide budget support to the government to counter and mitigate the adverse health and socio-economic impact of the pandemic.

Minister of Commerce and Industry & Railways Shri Piyush Goyal held discussions with the Export Promotion Councils(EPCs) of the country. He called upon the Exporters to identify their strengths, potentials and competitive advantages in specific sectors, and focus on harnessing them in the world markets. Goyal said that in the post-Covid era, there is going to be perceptible change in the global supply-chains, and Indian industrialists and exporters should be looking to capture significant share in the world trade. He assured them that the Government will be a pro-active supporter and facilitator in their efforts, and the Indian Missions abroad can play an important role in that. The Minister said that Incentives can be given, but they have to be justified, reasonable, and WTO-compliant.

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The government of India (GoI) has announced the sale (issue /re-issue) of three dated securities for Rs 19000 crore. These include 5.09% GS 2022 3,000 May 08, 2020, New GS 2030 (maturing on May 11, 2030) 10,000 and 7.19% GS 2060 6,000. GoI will have the option to retain additional subscription up to Rs 2,000 crore each against any one or more of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called 'Specific Notification'). The auction will be Yield based for New GS 2030 and price based for remaining securities using multiple price method. Up to 5% of the notified amount of the sale of the stocks will be allotted to eligible individuals and Institutions as per the Scheme for Non-Competitive Bidding Facility in the Auction of Government Securities.

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Sales decline 12.66% to Rs 406.57 crore

Speaking about this new fried chicken on the menu, Seema Arora Nambiar, Sr. Vice President, Menu, Marketing and People Resources, McDonald's India (West and South) said All our products are designed keeping in mind what our consumers want and like. McSpicy Fried Chicken has been specifically crafted as per the taste preference of our consumers. This product is carefully marinated with ghost chili pepper and is fried to perfection to ensure it is spicy to the last bite - just the way consumers love it.

The company has now received demand notice for the further period i.e. 2013-14 from the Commercial Tax Department, Karnataka aggregating to Rs. 85.19 crores (including interest & penalty) by treating the stock transfers of its Mangalore Plant as interstate sales to dealers.

Officials said a better indicator of productive and general expenditure will be replacing the plan and non-plan distiction that has lost relevance post Planning Commission abolition

Finance Minister Arun Jaitley in his second budget is likely to focus on steps to accelerate economic growth

Gillette India fell 1.13% to Rs 4,934.50 after net profit slumped 40.31% to Rs 52.38 crore on a 12.66% drop in net sales to Rs 406.57 crore in Q3 March 2020 over Q3 March 2019.

NLC India fell 0.46% to Rs 43.70 after the company said eight workers were injured in a fire accident at the TS II power plant in Neyveli, Tamil Nadu.

In the broader market, the S&P BSE Mid-Cap index was up 0.22% while the S&P BSE Small-Cap index down 0.1%.

Sales decline 2.83% to Rs 616.61 crore

On 08 May 2020

US-based BlackRock Inc. sold 324,863 equity shares, or 0.50% equity, of Just Dial on 7 May 2020.

Adani Enterprises on Friday (8 May) said it has incorporated a wholly-owned subsidiary company, "Nanasa Pidgaon Road" on 8 May 2020.

An Indian national will stand trial in Germany accused of spying on Sikh and Kashmiri communities for New Delhi's secret service, a court said Friday. Federal prosecutors allege the suspect, identified as 54-year-old Balvir, has been working with the Indian foreign intelligence agency Research & Analysis Wing since 2015. "He allegedly provided information about figures in the Sikh opposition scene and the Kashmiri movement and their relatives in Germany, and passed this on to his handlers who were working at the Indian consulate general in Frankfurt," the higher regional court in the city said in a statement. The trial will open on August 25. The same Frankfurt court convicted an Indian couple for spying on the same communities last December.

The owner of a popular Indian-American grocery story has been charged with price gouging during the coronavirus pandemic, when the entire state is under stay-at-home orders. Following consumer complaints, an investigation office revealed that Rajvinder Singh, owner of the popular Apna Bazaar in California's Pleasanton, had allegedly increased the prices of grocery items following the emergency declaration by the governor on March 4. Based on evidence provided by customer receipts, the investigation confirmed that the pricing of several food items exceeded the 10-per cent increase allowed during a state of emergency, with some prices being as much as 200 per cent more than what was previously charged, according to a joint statement issued by California Attorney General Xavier Becerra and Alameda County District Attorney Nancy O'Malley. The food items listed in the complaint include yellow onions, ginger, green beans, instant noodles, tea, chili peppers, pomegranates and red yams. "We ..

An Indian teenager here has recorded songs in over 20 languages, including Arabic, to spread awareness on the COVID-19, saying music has always been her choice for effective communication, according to a media report on Saturday. Suchetha Satish's songs advise the people to keep distance, maintain cleanliness and practice hand washing regularly, the Khaleej Times reported on Saturday. Satish, who hails from Kerala, released her first coronavirus awareness song on March 16 in English, titled 'Say No To Panic', the daily reported. Since then, 14-year-old Satish, who holds the world record for singing in most number of languages in a concert, has recorded the awareness songs in Malayalam, Bengali, Arabic, Kannada, Tulu, Konkani, Marathi, Gujrati, Rajasthani, Sindhi, Himachali, Odiya, Manipuri, Nepali, Urdu, Punjabi, Bhojpuri, Telugu, Kashmiri and Sanskrit. Her songs in Malayalam, Hindi, Bengali, Tamil and Assamese were used by the Kerala government in its 'Break the Chain' campaign, the .

A 40-year-old Indian-origin woman in Singapore was charged with five counts, including use of criminal force, in a court here on Saturday for refusing to wear a face mask for protection against COVID-19 and assaulting a police officer who tried to ascertain her identity. Kasturi Govindasamy Retnamswamy was arrested after the incident that happened at a shopping mall on May 7 and was captured on video. Retnamswamy, who is a Singaporean, was remanded at the Institute of Mental Health (IMH) for psychiatric evaluation after the incident, reported The Straits Times. She was taken to a court on Saturday and faced five charges, including use of abusive words and criminal force against a public servant. The next hearing is scheduled for May 22 after her remand in the IMH. According to the police statement on Friday, the woman insulted the mall staff and hurled abuses at a security officer who was trying to get her to put on her mask correctly. The widely-shared video of the incident shows a ..

Nepal on Saturday raised objection over India inaugurating a strategically crucial link road connecting the Lipulekh pass at a height of 17,000 feet along the border with China in Uttarakhand with Dharchula, saying this "unilateral act" runs against the understanding reached between the two countries on resolving the border issues. Nepal's Foreign Affairs Ministry in a statement said the government "has learnt with regret" about the inauguration of the link road connecting to Lipulekh pass, which Nepal claims to be part of its territory. The 80-Km new road inaugurated by Defence Minister Rajnath Singh on Friday is expected to help pilgrims visiting Kailash-Mansarovar in Tibet in China as it is around 90 kms from the Lipulekh pass. After inaugurating the road through video-conferencing, Singh said pilgrims going to Kailash-Mansarovar will now be able to complete their journey in one week instead of up to three weeks. The road originates at Ghatiabagarh and ends at Lipulekh pass, the ...

The first Air India flight from the UK, as part of the Vande Bharat Mission to repatriate Indians stranded overseas due to the coronavirus lockdown, took off from London's Heathrow Airport on Saturday with 326 passengers to Mumbai. The packed flight took off with Indian students and tourists, who were seen queuing with their luggage at the airport from early on Saturday as they prepared for the journey home. Each one of them underwent temperature tests before boarding and face 14 days of quarantine at a hotel or other location designated by the Maharashtra government on landing, with those details to be made available on arrival in Mumbai in the early hours of Sunday. While there is no social distancing possible on the packed flight, Air India is providing a kit for all passengers confirmed to fly, with meals, snacks, sanitizer, mask and gloves. Finally going back to India! Although it was at the last moment but I was lucky enough to get the ticket of the first flight to India under ..

Two flights carrying a total of 335 people from the Gulf countries landed in Kerala's two airports on Friday night, as India's Vande Bharat Mission to bring home its nationals stranded due to COVID-19 lockdown in various countries entered second day. While an Air India repatriation flight from Riyadh carrying 153 passengers, including 84 pregnant women, 22 children and four infants landed at the Kozhikode airport 8 pm on Friday night, another Air India Express flight from Bahrain with 177 passengers, including 5 infants, reached Kochi airport at 11.32 pm. Two flights had landed at Kochi and Kozhikode on Thursday from Abu Dhabi and Dubai, respectively. According to Kozhikode airport sources, the flight from Riyadh carried five people having some health issues and they would be shifted to Manjeri and Kozhikode medical college hospitals. Ten passengers from neighbouring states of Karnataka and Tamil Nadu also travelled in the flight from Riyadh, the sources said. The passengers were ...

Indian Navy Ship Jalashwa has set sail from Male to Kochi in Kerala with 698 Indians nationals who were stranded in Maldives amid the coronavirus-triggered lockdown, senior Navy officials said. This repatriation is part of the Vande Bharat Mission that began on Thursday to bring stranded Indians home from various countries like the UK, the UAE, the US, Maldives, Bahrain and Singapore. "Total 595 males and 103 females have boarded INS Jalashwa. 19 women are pregnant. The ship has departed from Male," the Navy officials added. When the ship arrived at the port of Male, the Defence Attache visited it to discuss and coordinate procedures for embarkation, they said. "Baggage disinfection stations, medical screening and reception desks at the jetty were set up to ensure safe embarkation while following social distancing norms," the officials said. Priority was accorded to pregnant women and children to embark the ship first and bunk allocation was also undertaken by the ship's crew catering

Maharashtra Cyber has registered 363 offences of rumour mongering, spreading misinformation, hatred and fake news on social media during the COVID-19 lockdown, an official said on Saturday. The state police's cyber wing has been monitoring online activities to prevent the spread of misinformation about the COVID-19 pandemic. As many as 196 persons were arrested for sharing or uploading objectionable posts, videos and photographs on social media, the official said. In Sangli district, a case was registered against some people for uploading a Tik-Tok video about a particular community being responsible for the pandemic and also using abusive language against prominent social reformers, he said. At least 14 offences were registered by the cyber wing in the district since the lockdown was enforced, he added. Similarly, in Parli town of Beed district, some persons were booked for a social media post linking the spread of COVID-19 to a particular community, he said, adding that